Barclays, upto £2500 cash back for a cash, investments, or ISA transfer

dharm999

https://www.barclays.co.uk/smart-investor/campaign/transfer/?campaign=SI_Email_Acquire_Campaign_email_Premier-2915-competitor_&chnnl=EMC

Got an email about this, this morning.  Need to transfer over £200k to get the maximum cash back and it’s paid out within 12 weeks after the end of the offer window I think, so around end of May 26.  

Looks worth a look in detail, especially if they offer trackers, MMF or gilt funds, as that’s what I’m interested in.

granta

This is good timing! My tie-in period for Charles Stanley ends soon so transferring a chunk back to Barclays will be useful. And no minimum tie-in period for the cashback once it reaches the end of the offer period.

Albermarle

Seems very generous !

I do not though really understand what this means in the process.
Do you have to register for Barclays online banking, even if you are not a current customer?
Normally when you open an ISA with a new provider, you just open the ISA and that is it.

 Log into Online banking and Select ‘Transfer in investments’ – Within your Investment ISA or Investment Account. (Transferring in is not currently available within our app)

flaneurs_lobster

Albermarle said:

Seems very generous !

I do not though really understand what this means in the process.
Do you have to register for Barclays online banking, even if you are not a current customer?
Normally when you open an ISA with a new provider, you just open the ISA and that is it.

 Log into Online banking and Select ‘Transfer in investments’ – Within your Investment ISA or Investment Account. (Transferring in is not currently available within our app)

If you don't have an online account with Barclays you can apply for their investment products but it looks like you would need to register for access (once you have the new product details) in order to initiate the product transfer (and register for the cashback deal).

poseidon1

I noticed the Barclays offer whilst hunting for flexible S & S isa providers.

Their 0.25% annual fee seems reasonable and the cashback would be a welcome bonus.

I live off isa income, but currently looking to extensively recycle income paid out back into S&S Isas to help increase invested isa capital beyond the £20k annual allowance. The Barclays product looks like it just might fit the bill.

refluxer

Albermarle said:

Seems very generous !

I do not though really understand what this means in the process.
Do you have to register for Barclays online banking, even if you are not a current customer?
Normally when you open an ISA with a new provider, you just open the ISA and that is it.

 Log into Online banking and Select ‘Transfer in investments’ – Within your Investment ISA or Investment Account. (Transferring in is not currently available within our app)

I seem to remember when the fixed term Barclays Flexible Cash ISAs were being discussed a few years ago, new customers discovered that they needed access to online banking to open one and the best (only ?) way of doing this was to open a Barclays current account. 

flaneurs_lobster

refluxer said:

Albermarle said:

Seems very generous !

I do not though really understand what this means in the process.
Do you have to register for Barclays online banking, even if you are not a current customer?
Normally when you open an ISA with a new provider, you just open the ISA and that is it.

 Log into Online banking and Select ‘Transfer in investments’ – Within your Investment ISA or Investment Account. (Transferring in is not currently available within our app)

I seem to remember when the fixed term Barclays Flexible Cash ISAs were being discussed a few years ago, new customers discovered that they needed access to online banking to open one and the best (only ?) way of doing this was to open a Barclays current account. 

True that, although at that time the Barclays (Blue) savings products and freebies were worth having too.

friolento

This looks a really attractive offer and I am seriously considering moving the majority of my iWeb ISA to Barclays. I don't want to close the iWeb ISA just yet, as it's a low cost account that I have held for many years. I reckon I would pay about £40 - £50 a year more at Barclays, and I might take the opportunity to switch from ACC to INC, or replace some investments altogether with lower risk ones, as I am entering the decumulation phase of my investment life. 

One factor that holds me back a bit is my experience over the years with Barclays on current accounts. Dreadful CS, but I suppose their investment people are a completely different department and I haven't heard horror stories about them so would perhaps be able to chance it.

Anything glaringly obvious I am missing?

poseidon1

friolento said:

This looks a really attractive offer and I am seriously considering moving the majority of my iWeb ISA to Barclays. I don't want to close the iWeb ISA just yet, as it's a low cost account that I have held for many years. I reckon I would pay about £40 - £50 a year more at Barclays, and I might take the opportunity to switch from ACC to INC, or replace some investments altogether with lower risk ones, as I am entering the decumulation phase of my investment life. 

One factor that holds me back a bit is my experience over the years with Barclays on current accounts. Dreadful CS, but I suppose their investment people are a completely different department and I haven't heard horror stories about them so would perhaps be able to chance it.

Anything glaringly obvious I am missing?

I will be a taking a suck and see approach with this Barclays isa product since I particularly want access to its flexible status.

However, did have a bad experience with their fixed rate cash isa in 2023 when they took 3 months to set it up after HL transferred the cash within 1 week ( Barclays were swamped with applications). However they did eventually cough up compensation of £200.

mr_accountant

Is there a link to the full list of funds available to invest in, website is rubbish keep going round in circles

artyboy

Oh darn, I thought this was a SIPP offer, got my hopes up for a moment!